For many, gold is not just a precious metal—it’s a symbol of prosperity and good fortune. Whether it’s for a festival, wedding, or any auspicious occasion, gold is often the first choice for celebration. As Dussehra approaches, there’s good news for gold buyers as prices continue to fall, providing much-needed relief for those looking to invest.
Gold Prices Dip Ahead of Dussehra Festivities
On Friday, gold prices dropped for the third consecutive day, bringing joy to both men and women eagerly anticipating lower prices for festive purchases. In Hyderabad, 24-carat gold is priced at ₹76,630 for 10 grams, while 22-carat gold is priced at ₹70,240. These same rates are reflected in Vijayawada and Visakhapatnam, allowing gold enthusiasts in these cities to enjoy the price dip just in time for Dussehra.
In other major cities, gold prices also show a downward trend. For instance, in Delhi, the price of 24-carat gold stands at ₹76,780 per 10 grams, with 22-carat gold at ₹70,390. Meanwhile, Mumbai follows closely with prices similar to those in Hyderabad: ₹76,630 for 24-carat gold and ₹70,240 for 22-carat gold.
Silver Prices Drop in Sync with Gold
It’s not just gold that’s becoming more affordable—silver prices are also following suit. On Friday, silver dropped by ₹100, bringing the price per kilogram to ₹93,900 in cities like Mumbai, Delhi, Kolkata, and Pune. In Hyderabad, Kerala, Chennai, Vijayawada, and Visakhapatnam, silver prices are slightly higher at ₹99,900 per kilogram. However, Bangalore offers a more economical option, with silver priced at ₹84,900 per kilogram.
Factors Behind the Price Drop
The recent decline in gold and silver prices can be attributed to various factors, including international market trends and fluctuations in the value of the rupee. These drops are encouraging more buyers to invest in these metals ahead of Dussehra, a time when gifting gold and silver is considered highly auspicious.
Best Time to Buy?
For those looking to purchase gold or silver, the current price trend could be a perfect opportunity. With prices showing a decrease over the past few days, this may be an ideal time to make that long-awaited purchase. However, always keep an eye on market trends as they can be unpredictable, especially around festive seasons.
Leave a comment